Proposal “DIF-ONGOING-FUNDING-Q4-2020“ (Active)Back

Title:DIF ONGOING FUNDING Q4-2020
Owner:TheDIF
Monthly amount: 200 DASH (18721 USD)
Completed payments: no payments occurred yet (3 month remaining)
Payment start/end: 2020-11-15 / 2021-02-12 (added on 2020-11-13)
Votes: 708 Yes / 53 No / 2 Abstain
Will be funded: Yes
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many acfd7c9cefe4eaef5c9f2683b21c4fe935813135ef0303a410479ee293c60b1e funding yes

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Proposal description

Monthly ask will be 200 Dash each month for the next 3 months

After obtaining feedback from the network here the supervisors have agreed to submit a proposal to the network requesting ongoing funding of 200D per month. 

What Does This Proposal Fund?

All Dash received are for only two purposes: 

1) reserves and 
2) fund management/admin/legal expenses.

Currently, our operational costs are approximately $50,000 per annum plus one-off legal costs associated with individual deals that the DIF may explore and enter into. 


How Much Does the DIF Currently Have in Reserve?

Our balance sheet has been completed up to the end of Q3 2020 and published here. Total net asset value of the DIF as of the end of Q3 is USD $249,862.08.

The DIF’s Vision

The DIF will:

  • Facilitate the solicitation, negotiation, and due diligence of investments of potential interest to the Dash DAO
  • Guide entrepreneurs seeking funding from the DIF by educating them on the process and best practices to improve the chances for a successful investment
  • Manage reserves for the network in a manner that balances the needs to grow the reserves, and to limit risks
  • Seed the liquidity and growth of emerging Dash financial markets or products
  • Conduct all activities with a high degree of transparency - while providing a bridge to the needs of potential partners desiring to protect non-public information

When will the DIF publish its next Quarterly Report?

Our Q3-2020 Report will be published in the coming weeks. 

List of recent press releases


 

Show full description ...

Discussion: Should we fund this proposal?

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1 point,4 days ago
I am voting no to all DIF proposals until such time that there is a written agreement with the network that ALL details of any funding request are made 100% transparent to the MNO network and that the MNO network can vote based on seeing the full agreement of the investment.

Remember what happened in 2008 with the devastating economic crisis? In essence the crisis was born out of investment information not being made 100% transparent. The likes of Lehman and Goldman Sachs knowingly selling toxic assets to their unwitting investors and not disclosing that they knew they were selling toxic assets. They sold those assets to their investors and the investors had no idea what they were buying - they trusted their brokers. We all know what happened after this the devastating world-wide consequences would be. That is what can happen when all investment information is not made 100% transparent.

Power, money and greed inevitably will lead to corruption. Compete transparency is the antidote to this.

Cryptocurrency was born out of the 2008 economic meltdown and the millions of people that lost their businesses, homes and livelyhoods. And those gloating bastards in the investment banks got away with it all - no banker was prosecuted. Out of this disaster was born a new, trustworthy and fully transparent payment system called Bitcoin . The code for Bitcoin and Dash is completely open source for a reason. It enables anyone to trust the system because everything is transparent and can be validated to be what it says it is. The Bitcoin / Dash open source code is made available to anyone who wishes to see it, not just a minority group - there is a reason for that. The ultimate reason is that transparency enforces honesty, and it is honestly and integrity that makes for a solid financial system.

The same has to be said for any investments that Dash chooses to make. It must be 100% transparent to the entire network what we are investing in. If that cannot be achieve then I will not vote for the DIF going forward until that is the case. I don't want to hear the usual feedback in that companies will not want to give equity without signing a NDA. I would rather we had no investments than investments in which we betray our very fundamental value of transparency.

There is a time for privacy e.g. if a company has specific detailed information on technical innovation technology they have uniquely developed. Under this circumstance I agree they should keep that specific type of detail private, however when it comes to the terms of an investment contract that must be completely transparent and published to the network in its entirety without any withholding of any information. Without any details being omitted, changes or modified. If companies do not want to agree to that basic requirement then they are not suitable for investment from a Decentralized project like Dash. We must hold our core values first and foremost before profits. The door remains open for corruption in the future.

We all have an opportunity now to setup a currency that is uncorruptible both now and in the future. The only way to ensure that is complete transparency on investment deals like the DIF is attempting to setup. We should never allow the possibility that Dash could be corrupted by a small group of individuals. We may trust the members of the DIF but that is irrelevant. As a decentralized open crypto project we should not have to trust in order to know.

Each MNO has an opportunity to ensure DASH can never be corrupted by your vote in this project. It comes down to what do you want for now and the future of Dash. Do you want to go back to trusting people or do you want to setup a framework where trust is not required in order to know?

You have a unique opportunity right now in how you vote to create that uncorruptible money system.

Vote NO if you believe all details of any DIF funding agreement needs to be transparently published to the network.
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-3 points,4 days ago
My dear DeepBlue,

You're not a very subtle concern troll when it comes to the DIF. Why don't you just admit you're against it and want it gone? Your demand of 100% transparency for any deals would prevent the DIF from investing in any company.

According to your logic, maybe we should demand that all tax returns and bank statements of every proposal owner be released publicly.
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-5 points,6 days ago
We need to keep morale high at the Dash Investment Foundation, and one way to do that is to keep approving these funding proposals. The DIF supervisors are volunteers!
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-1 point,8 days ago
Yes from me.
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5 points,9 days ago
Always no for DIF.
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2 points,5 days ago
Agreed x16.
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